4701-17-02
Scholarship eligibility criteria.

(A)
The criteria
that must be met in order for an applicant to qualify for a scholarship are as
follows:

(1)
The applicant must be a minority student, defined in paragraph (A) of rule
4701-17-01 of the Administrative
Code, or a student demonstrating financial need. The board will set the
criteria for defining financial need and may use the federal methodology as
established in the "Free Application for Federal Student Aid (FAFSA)" to assist
it in determining such criteria.

(2)
The applicant
must be enrolled as a student in an Ohio college or university.

(3)
The applicant
must have completed one hundred twenty semester credit hours prior to the
college term for which the first payment is to be received.

(4)
The applicant
must have declared a major in accounting or be enrolled in a program that, upon
completion, would meet the educational requirements described in division
(D)(1)(b) of section 4701.06 of the Revised Code and
rule 4701-3-03 of the Administrative
Code.

(5)
The applicant must be a student who is academically in
good standing as defined by the Ohio college or university.

(6)
The applicant is
an Ohio resident as defined in paragraph (F) of rule
4701-17-01 of the Administrative
Code.

(7)
Additionally, an eligible recipient may be a program,
which supports minority CPA development and recruitment and awareness programs
that have been approved by the board.

(B)
Payments are to
be disbursed to the student and made out to the Ohio college or university by
the board upon receipt of the following:

(1)
An official
invoice to the applicant from the Ohio college or university showing charges to
be paid for the applicable term.

(2)
A schedule of
courses that certifies enrollment for a specific educational
term.

(3)
A certification by the student that the student will
sit for the CPA examination within two years of the date of the final
scholarship grant payment.

(C)
If the applicant
qualifies for more than one grant payment, the applicant must submit with each
subsequent payment request, the passing grades earned in the preceding term for
which a grant payment was received.

(D)
Scholarship
grants are valid for one year. If a grant recipient fails to exercise the grant
during the one year period, the grant will expire. If a grant recipient
exercises the grant and receives a payment, the grant will expire one year
after the date of payment.